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An Introduction to Price Indices

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If you have a question about this talk, please contact Elena Yudovina.

I will talk about how price indices, such as the RPI (Retail Prices Index) are calculated. Using a simple example, I will show how the mechanics of supply and demand might interfere with such a process and how we can mitigate that problem. I will also discuss deflators and their use when the composition of an index changes frequently, and if time permits I will talk about some of my work with Path Intelligence on creating an index of the length of time people spend in shopping centres.

This talk is part of the Statistical Laboratory Graduate Seminars series.

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